All the necessary permits have been granted, and naval units will be built in the future. The Spanish shipbuilder Navantia is taking control of the British shipyard group Harland & Wolff, best known for building the Titanic.
Navantia has announced that it has completed the acquisition of Harland & Wolff’s facilities in Belfast, Appledore, Methil, and Arnish. The plans were announced at the end of last year, and now the Spanish company has announced the completion of the deal. “More than 1,000 jobs will be safeguarded at the four sites, and the UK’s industrial capabilities in the defence, marine, and clean energy sectors will be strengthened,” it said in a statement.
The Harland & Wolff shipyard group, which has several sites in the UK, has been struggling to survive for years. The last relaunch was also unsuccessful and the company is currently burdened by an enormous debt load. The traditional British shipyard slipped into insolvency again in September after a loan application for £200m was rejected by the British Export Credit Agency.
Harland & Wolff builds naval vessels
Financial details of the transaction were not disclosed. Led by Navantia UK, all four facilities are expected to benefit from “extensive expertise in shipbuilding, manufacturing and complex program management”, supporting both a highly skilled workforce and a robust supply chain.
The UK government is backing up the latest new start with a multi-million-pound contract for the Royal Navy. Under the deal, Harland & Wolff is to build three supply vessels worth £1.6bn. They are to be built at the shipyards in Belfast and Appledore as well as in Cadiz, Spain. Navantia UK says it is also planning “significant development of the yards” for the defence, marine and green energy sectors.
Ricardo Domínguez, chairman of Navantia, said: “The completion of this acquisition is an important milestone for Navantia UK and demonstrates our long-term commitment to the UK industry. By combining the proud heritage and facilities of Harland & Wolff with Navantia’s global expertise in defence, marine and renewable energy, we are creating an exceptional platform for growth.”
